ANSYS, Inc. today announced growth in both revenue and diluted earnings per share for the third quarter of 2016. The Company reported revenue growth of 2% in constant currency on both a GAAP and non-GAAP basis. Earnings per share rose 8% on a GAAP basis and 6% on a non-GAAP basis.
Commenting on the Company’s third quarter 2016 performance, Jim Cashman, ANSYS CEO stated, “Overall, we delivered earnings results which exceeded our expectation, with strong gross and operating margins. Revenue growth, which was at the lower end of our revenue range, was impacted by an increase in leasing and lower year-over-year perpetual revenue due largely to a challenging comparison to Q3 2015. Our lease license revenues grew 7% in constant currency and our maintenance revenue grew 9% in constant currency, contributing to our recurring revenue base strengthening to 76% of revenue for the quarter. Germany, Japan, China and Taiwan led the performance, while we saw slower growth in North America and parts of Europe.”
Cashman further stated, “Today also marks yet another step forward in our systems strategy with the addition of Berlin-based KPIT medini Technologies AG, a leading provider of systems safety analysis solutions. As ANSYS continues expanding its leading simulation software platform into system and software engineering, it is important to include tools in the portfolio that manage and streamline complex system engineering processes. Functional safety aspects of system engineering are of particular importance as many of today’s customer products are of safety-critical nature, such as autonomous driving systems, control systems and avionics.”
ANSYS' third quarter and year-to-date financial results are presented below. The 2016 and 2015 non-GAAP results exclude the income statement effects of acquisition accounting adjustments to deferred revenue, the impact of stock-based compensation, acquisition-related amortization of intangible assets and acquisition-related transaction costs.
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